The Northwest Biotherapeutics (OTCMKTS:NWBO) stock was in action in the markets this past Friday and ended up recording gains of as much as 14.50% as investors piled on to it. As a matter of fact, the stock had been in the news ever since Northwest provided an update with regards to its manufacturing facility in the United Kingdom last Wednesday.
In light of the gains made by the stock, it might be a good idea for investors to take a look at the announcement made by Northwest. In addition to that, the company also provided updates with regards to the Phase III trial of its product DCVax, which provides customised immune therapies to patients suffering from cancer tumours.
The company announced that it submitted an application for the certification of its Sawston facility in United Kingdom to Medicines and Healthcare Products Regulatory Agency (MHRA). It emerged that the entire application package for certifying the facility to produce Good Manufacturing Practice (GMP) clinical grade medical products was submitted back on May 7. It is a major milestone for the company considering the fact that it has prepared for this application for more than two years. As a matter of fact, more than a year of those preparations had been conducted under trying conditions during the COVID 19 restriction in the United Kingdom.
Back in March this year, the extent of the preparations made by the company to get the MHRA certification had been detailed as well. It included the physical build-out of the Sawston facility, preparation of batch manufacturing records, building a team of around 40 professionals with the skills to produce Advanced Therapy Medical Products, and developing more than 500 regulatory documents with regards to the operations of the facility. The excitement among investors regarding this development is understandable and it is now going to be interesting to see if the Northwest stock can add to its gains this week.